Institute of Directors

The IoD hopes that the chancellor will put the reform of the tax system at the heart of Wednesday's budget. It suggests:

• A commitment to abolishing the 50% top rate of income tax by 2014-15 – no fiscal cost prior to 2014-15, with the potential to be revenue positive thereafter. Coalition politics and the fiscal squeeze rule out early abolition but a clear statement about future abolition, by the chancellor in the budget, could significantly boost business confidence

• Removing the withdrawal of the personal allowance on earnings above £100,000. Annual cost of around £1.5bn but potentially much less, given the lost output arising from the 62% marginal rate on affected income at present. The median salary for IoD members is around £75,000 and so the withdrawal of the personal allowance directly impacts on their aspirations for future income

• Extending the reduction of corporation tax to 15% by 2020. We want to aim for the UK having the lowest corporate tax rate in the world by 2020. On current estimates reducing the rate from 24% to 15% would cost around £9bn a year. This would be funded by continued restraint in public spending growth, simplification and removal of certain allowances, together with the dynamic impact on GDP growth from greater business investment in the UK. Combined with the personal tax changes described above, it would send out a very strong message that Britain is open for business

• Introducing an exemption from future capital gains tax for entrepreneurial investments. If a new company starts in business between now and 5 April 2012 then the people who subscribe for shares in it within that period would be exempt from capital gains tax when they sold those shares, whenever they sold them. This would encourage the injection of fresh equity capital into businesses (only shares subscribed for would qualify, not shares bought from existing shareholders).

• Encouraging the development of the medium-sized corporate debt market to boost business growth

• Improving the Enterprise Investment Scheme to bridge the funding gap for larger SMEs requiring between £2m and £10m

• Piloting "growth zones" to attract investment.

To encourage growth and job creation, the CBI wants the government to:

• Avoid re-localising the uniform business rate to prevent the risk of business costs increasing

• Extend the qualifying period for unfair dismissal and reform employment tribunals to boost job creation

• Restore the incentive of the Carbon Reduction Commitment or stop the scheme to reflect concern about energy costs

• Promote more competition in public service delivery.

TUC

The TUC hopes for a more flexible deficit reduction timetable, fairer taxation and a well-funded green investment bank to encourage jobs and sustainable growth. It also called for tougher action on tax avoidance, and a VAT cut.

• A green investment bank – one that can borrow as well as use available funds – to support low-carbon business start-ups, to be operational within 12 months

• A modern industrial strategy to examine investment in key industries such as high-value manufacturing and science

• Tougher action on tax avoidance and a Robin Hood tax on financial transactions that could raise tens of billions a year

• Investment in high-quality employment programmes, including the re-instatement of the Future Jobs Fund

• A reversal of the government's damaging VAT rise and a commitment to ensure that, as a minimum, all low-paid local government workers receive their promised £250 pay rise.

Northern Housing Consortium

The Northern Housing Consortium has four proposals to help the economic recovery in the north of England:

• The high quality of the north's submissions to the Regional Growth Fund should be recognised, and a further £1bn invested in the fund so it can assist more projects

• The budget must take steps to increase mortgage lending, particularly to first-time buyers and those accessing affordable home ownership products

• Enterprise zones must be part of a wider package of initiatives to tackle worklessness, including person-centred approaches, which housing providers are well-placed to assist with

• Housing renewal zones should be established in former housing market renewal areas, providing incentives for refurbishment and developm.ent in those areas

Forum of Private Business

The Forum of Private Business has demanded radical tax simplification proposals to cut the burden on small firms.

It also argues that the budget should help non-employers to take on their first member of staff, and subsequent employees, by cutting national insurance by 1% and creating a national insurance holiday for businesses on previously unemployed recruits. It also wants the government to make businesses more profitable by reducing corporation tax to 17% for all firms by 2014.

Friends of the Earth

The environmental group says UK needs an economic recovery strategy that delivers new jobs and cuts the country's dependence on oil. It has six key policy actions:

• Green investment bank: Introduce legislation this year to establish it as an independent bank – not a fund – able to borrow and issue bonds. Capitalise it (initially) with at least £4bn

• Decentralised energy and feed-in tariffs: Lift the cap imposed at the comprehensive spending review. Triple the ambition of the scheme so it can deliver at least 6% of UK electricity by 2020

• Energy efficiency: Reverse the cuts to Warm Front. Commit to sourcing new funding streams for energy efficiency commensurate with the task at hand

• Transport: Stand firm on the 1p fuel duty rise. Cut road building spending and use the money saved to boost green transport. Announce a package of measures to help those most affected by fuel prices

• Taxation Reform: Air passenger duty to be a per plane tax, including freight (+£3bn). Bring in a unilateral tax on trades of sterling

• Green localism: Support council action on climate change with new £15m fund.

PricewaterhouseCoopers

John Hawksworth of PwC believes that public borrowing is less than expected, Osborne should bank the windfall rather than spend it:

"We think very much he should bank any kind of windfall he gets. We think that at this point it might turn out to be temporary and therefore he needs to take a cautious view and not spend any undershoot in borrowing. In terms of specific measures, I think my general view as an economist would be the less the better.

"I think a nice stable environment after all of the changes announced last year would be preferable although I think we may see that he will postpone the increase in petrol duty given the very high level of world oil prices which I think most motorists would probably be quite grateful for.

"But overall, I wouldn't expect any big shift in fiscal policy in this budget. It will largely just say that the plans he announced last year will continue."

Consulting Inplace

The consultancy group says the budget should include:

• Measures to drive up the demand for, and successful completion of, apprenticeships. This would include scaling up apprenticeships training agencies, creating more routes into apprenticeships, and giving firms tax breaks

• Incentives for older people to volunteer

• Tax breaks for children's centres, to help the government meet its child poverty goals.

The BioIndustry Association

The BIA has called for a "budget for the life sciences" to unlock growth in the UK life sciences sector.

• The association has set out proposals to enhance the impact of R&D tax credits, such as by decoupling the link between R&D spend and PAYE and national insurance payments made under the current system, which currently results in many SMEs failing to get full value from the regime

• It also called for "innovative thinking" on start-up funding, through a new funding mechanism based around the successful French Fonds Commun de Placements dans L'Innovation (FCPI).

While our senior political correspondent blogged every minute of the 2011 budget, we asked our live blog readers for their reaction to George Osborne's announcements. Did the 'Ford Focus budget' meet their expectations, or was a 1p cut in fuel duty not enough?